Ranger Energy Services, Inc. Announces Quarterly Dividend of $0.06 (NYSE:RNGR)

Ranger Energy Services, Inc. (NYSE:RNGR) declared a quarterly dividend on Monday, July 27th. Investors of record on Friday, August 7th will be given a dividend of 0.06 per share on Friday, August 21st. This represents a c) annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th.

Ranger Energy Services has a payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ranger Energy Services to earn $1.51 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 15.9%.

Ranger Energy Services Price Performance

Shares of NYSE RNGR opened at $15.44 on Tuesday. The stock’s 50-day moving average is $15.78 and its two-hundred day moving average is $16.25. Ranger Energy Services has a 1-year low of $11.88 and a 1-year high of $18.82. The company has a market cap of $366.81 million, a price-to-earnings ratio of 24.51 and a beta of 0.12.

Ranger Energy Services (NYSE:RNGR) last announced its quarterly earnings data on Monday, July 27th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Ranger Energy Services had a net margin of 2.58% and a return on equity of 5.12%. The company had revenue of $176.50 million during the quarter, compared to analysts’ expectations of $163.93 million. Equities research analysts anticipate that Ranger Energy Services will post 1.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Zacks Research upgraded shares of Ranger Energy Services from a “strong sell” rating to a “hold” rating in a research note on Friday, July 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Ranger Energy Services in a research report on Wednesday, June 24th. Piper Sandler raised their price objective on shares of Ranger Energy Services from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Finally, Wall Street Zen raised shares of Ranger Energy Services from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.00.

Ranger Energy Services Company Profile

Ranger Energy Services, Inc, based in The Woodlands, Texas, is a North American land drilling contractor serving exploration and production companies in the oil and natural gas industry. The company provides contract drilling, well servicing, pressure pumping and completion support services designed to enhance operational efficiency and optimize well performance.

Through its diversified fleet of drilling and service rigs and ancillary equipment, Ranger offers turnkey solutions across all phases of the drilling lifecycle—from pad construction and drilling to completion and workover operations.